E&Y Wins First "ProductivityPlus" Award

Can you learn from the past employee retention mistakes of
Ernst & Young?

The Big 5 firm recently was recognized by Business & Health magazine for ongoing programs that "help employees balance personal and professional responsibilities." The ProductivityPlus Award focuses on how an employer contributes to the health of the workplace they create.

E&Y established an Office for Rentention in 1996. This came
after experiencing turnover of more than 20 percent in 1995
with a large portion of that turnover being females. It seems that females felt that there were fewer opportunities and role models for them. These factors combined with learning that the cost of hiring and training a new employee could cost as much as 150 percent of the predecessor's total compensation, and it was time to put new programs into place. Among these were flexible work arrangements and a mentoring network for women.

A little goes a long way apparently. E&Y reports that the
new work/life balance programs saved the company $8.5 million in retention of employees last year.

For more information on Business & Health's ProductivityPlus
Award and columns, contact Editor, Richard Service at
201.358.7208 or email rick.service@medec.com.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.